Verizon Wireless Leases Retail Space At 2875 Broadway From Premiere Equities In Upper West Side
2875 Broadway
$400
$400/SF
Building Size
1,350 SF
Asset Type
Retail
Closing
Sep 1, 2024
AI
The property asset involved in this transaction is a retail space located at 2875 Broadway in the Upper West Side market. The lease type is a retail lease, with an asking rent of $400 per square foot for a total area of 1,350 square feet. The landlord of the property is Premiere Equities, while the tenant is Verizon Wireless.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $400/ft
- Square Footage: 1,350
- Address: 2875 Broadway
- Market: Upper West Side
- Landlord: Premiere Equities
- Tenant: Verizon Wireless
- Brokers: Solomon Sharaby & Selim Sabbagh - KSR
The deal involved key individuals Solomon Sharaby and Selim Sabbagh, who represented the landlord and tenant in this transaction. They are affiliated with KSR, a brokerage firm that facilitated this lease agreement.
Players
New York Retail Market Snapshot
Boundary boundary · Retail · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
39657.50%
Cash-on-Cash
-11334.24%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93